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Popular Bitcoin pioneer Max Keiser shared his latest BTC price prediction on Twitter…
“Buffett’s rotation out of banks into GOLD – marks the end of all-fiat money experiment started in 1971 – marks the start of 3rd leg of Gold’s bull run started in 2000 – marks the top in bond market – marks the beginning of $USD crash – marks start of BTC to $400,000.”
In other trending Bitcoin News today:
Bitcoin Price Will ‘Explode’ Says Trader if BTC Breaches $13,000
Bitcoin (BTC) will “explode” in price once it hits $13,000, one trader believes as Bitcoin futures trade at 6% above spot price.
In a tweet on Aug. 18, the derivatives trader JSterz highlighted “extreme” Bitcoin futures spreads as a sign that an intensely strong bullish advance may soon arrive.
Currently, Bitcoin futures contracts expiring in March 2021 are priced 6% higher than the BTC/USD spot price at around $12,280.
“It seems extreme to see BTC-Mar21 trading 6% above spot,” JSterz summarized.
“We have been at this level about four times since 2017. If BTC breaches 13k+ this thing is going to explode.”
Open interest for a basket of trading platforms hit new all-time highs on Monday, beating a previous record from mid-February, before March’s coronavirus-induced crash.
“Note the changes in market share of OI,” Ikigai fund manager Travis Kling commented, uploading an overview chart to Twitter.
“We’ve been talking about The Herd… coming for so long its become a meme. But without a doubt, this is actually The Herd and its wildly bullish.”
Institutional investment in Bitcoin remains a major topic of conversation among supporters this month, following a dramatic buy-in from multibillion-dollar MicroStrategy in late July.
Asset manager Grayscale has seen record investment in its various cryptocurrency funds, as Bitcoin outperforms gold as a fiat hedge.
On Monday, a sudden swing above $12,000 was assumed to be a red herring, but the higher levels have since held.
For John Bollinger, creator of the Bollinger Bands volatility indicator, there was now every reason to believe in the strength of the rally.
“I imagine that someone is complaining about the $BTCUSD rally. Not me, a picture perfect advance so far,” he tweeted at the time.
“Squeeze, confirmed break out, walk up the upper band, consol, support at middle band, mini-Squeeze, break to new highs. How much more could one ask for?!”
In other trending Bitcoin News today:
The New McAfee: Dave Portnoy Forgets About Bitcoin and Starts Shilling Low-Cap Altcoins To His 1.7M Followers
The poster child for legacy market day trading, Dave Portnoy, who recently met the Winklevoss Twins to discuss Bitcoin, is now well over it.
Apparently, his new passion lies within low-cap altcoins such as Orchid (OXT).
The cryptocurrency has a total market capitalization of less than $40 million.
Despite being relatively unknown in the space, Portnoy is supposedly investing in it.
Max Keiser tweeted,
“As predicted last week ADD victim Dave would forget about BTC within minutes and immediately become a shitcoiner. John McAfee came very close to being jailed for this ‘coin of the day’ scam. Might still be.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.